What is the Income of the Top One Percent?

[LaydeeBug]

I have a fb freep telling me it's 250k (and that it's really not all that much).

Please help me with this dittospank. :hi:

[Extend a Hand]

1. here are some of my links on defining wealth

http://www.jmooneyham.com/rich.html
http://www.faculty.fairfield.edu/faculty/hodgson/Courses/so11/stratification/income&wealth.htm
http://www.lookingglassnews.org/viewcommentary.php?storyid=33
http://sociology.ucsc.edu/whorulesamerica/power/wealth.html

with which you can spank the dittohead ;)

[LaydeeBug]

5. Thank you very much. I've checked out the top two...

will get to the others when I can.

[Lydia Leftcoast]

2. According to this link, it's about $380,000 per taxpayer (not per household)

Now you might think that it's not "all that much" if it's your income, if but if 99% of Americans have less, then it IS all that much.

http://www.taxfoundation.org/news/show/250.html

[Amonester]

3. Of course, that's what is 'officially' declared...

Of coarse, of what is 'not declared' or 'allowed to sta$h sowewhere else' there's no way of knowing...



http://video.google.com/videoplay?docid=1296155071179146825#">TheiR Ultimate Goal (Soylent Green, 'around' 1:00:00)

[bbinacan]

4. This is curious..

From 1987-2008, the number of filers in the top 1% and bottom 50% each rose by 31.8%.

[Hannah Bell]

7. that's not strange. if the number of individual filers as a whole rises, the %

in each percentile category will rise to the same degree.

us population rose 24% in the same period.

vagaries of tax law will account for the rest of the difference in the number who do or don't file as individuals.

[bbinacan]

10. I was looking for the number

of filers in the lowest 50 to increase by more than the top 1%

[Hannah Bell]

6. go to the source: irs

http://www.irs.gov/taxstats/indtaxstats/article/0,,id=133521,00.html#_grp3

open Individual Income Tax Returns with Positive Adjusted Gross Income (AGI)

in 2007 the *floor* on the (adjusted gross, meaning there are some deductions) income for the top 1% was $410K.

They paid tax at an effective rate of 22.45% and took 22.83% -- nearly 1/4 -- of ALL INCOME in the US.

Meanwhile, the bottom 50% of individual filers took home only 12.26% of total US income.

That is about the same share of income the top 0.1% took: 11.93%.

The floor on income for the top 0.1% = $2 million.

They paid taxes at an effective rate of 21.46% -- less than the top 1% as a whole.

That's 141,000 people.

[Warren Stupidity]

8. If you want to know who owns and operates america start with

those 141,000, and then look at their net assets.

[MadMaddie]

9. Bingo!

That's what's not getting into the news, there are only 141,000 people out of a population of 308,745,538. These are the people that the Republicans fought for. We need to break this down to a level that even a 10 year old could comprehend.
http://www.census.gov/